https://www.taxtmi.com/caselaws?id=168435 Where a life insurance policy becomes payable on the assured's death to a valid nominee under Section 39 of the Insurance Act, the nominee acquires the right to receive the policy amount. If the nominee dies after the policy has matured but before actual receipt, that right passes to the nominee's estate and not to the assured's heirs. Section 39 distinguishes a nominee dying before maturity from one dying after maturity, and Section 38 on assignment does not displace this result. The policy amount was therefore payable to the nominee's legal representative, and the succession certificate was rightly granted in favour of the nominee's estate. en-us Mon, 30 Oct 1961 00:00:00 +0530 Mon, 04 May 2015 10:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=168435 Where a life insurance policy becomes payable on the assured's death to a valid nominee under Section 39 of the Insurance Act, the nominee acquires the right to receive the policy amount. If the nominee dies after the policy has matured but before actual receipt, that right passes to the nominee's estate and not to the assured's heirs. Section 39 distinguishes a nominee dying before maturity from one dying after maturity, and Section 38 on assignment does not displace this result. The policy amount was therefore payable to the nominee's legal representative, and the succession certificate was rightly granted in favour of the nominee's estate. Case-Laws Indian Laws Mon, 30 Oct 1961 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=168435